Pennywise HYIB: The king of Absurdity

Just last week, some dudes came to my office to offer the ever enticing money doubling schemes. I don’t think am being fair in calling Pennywise money doubling or S’ogun D’ogoji because man, Pennywise is something else!

This is how it works. You give them a paltry N2,500 for a slot and over a period of 9 weeks, the scheme will pay out a cumulative of N251,390. Effectively, you multiply any amount you put inside by 100 in 9 weeks. Interesting!

What if I decide to invest just N250K back? Further still, or what happens if I decide to roll over my investment every 9 weeks for a period of 1 year?

With my MS Excel, this is what I get:

Week

Naira

Dollars

0

2,500.00

19.23

9

250,000.00

1,923.08

18

25,000,000.00

192,307.69

27

2,500,000,000.00

19,230,769.23

36

250,000,000,000.00

1,923,076,923.08

45

25,000,000,000,000.00

192,307,692,307.69

54

2,500,000,000,000,000.00

19,230,769,230,769.20

So with my humble N2,500 in January 1, I could, by second week of January the next year, be worth over $19 trillion, isn’t that wonderful?